As was stated by the Indian law enforcement agency, regulator attached immovable properties of the owner of GainBitcoin.com. Amit Bhardwaj for creating fraudulent Bitcoin trading Ponzi scheme that was run under the banner of Variabletech Pvt Ltd, Singapore.
ED attaches assets worth Rs. 42.88 crore in GainBitcoin Ponzi Scheme masterminded by Amit Bhardwaj and associates.
— ED (@dir_ed) September 21, 2018
Under the scheme, Bhardwaj through his team of marketing agents used to lure the people by asking them to buy bitcoins and then invest them in his bitcoin scheme by promising very high returns in terms of bitcoins itself by use of mining kits.
Arrested immovable properties include six offices in Dubai, the residential apartments and bank balances of two of Bhardwaj associates Hemant Bhope and Pankaj Adlakha, under the provision of Anti Money Laundering (AML) act.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.